French trader Fredi9999 has invested heavily in Trump-related bets on Polymarket, drawing attention for his $52 million wagers and prompting additional checks by the platform.

The crypto-based Polymarket says it has not uncovered evidence of manipulation in the massive bets on a Trump win.

A new report from Bloomberg notes that a “handful of accounts” have “spent millions of dollars worth of crypto on bets in favor of Trump’s return to the White House.” Indeed, the Wall Street Journal recently ran a story on four highly active Polymarket accounts that have been exuberantly betting on the U.

Polymarket faces scrutiny after large Trump election bets spark concerns over market manipulation. We explore big wagers affecting U.S. election predictions.

The mystery bettor on election gambling site Polymarket who made large bets on a Trump election victory is a French national who took a position based on a personal view of the presidential race, Polymarket said in a statement on Thursday.

Polymarket representatives say they have found a trader with a $28 million bet that former President Trump will win the 2024 Presidential election.

BI compiled data on the trading activity of the Polymarket "whale" accounts and found two of them placed more than 2,500 bets in the past 24 hours.

Cryptocurrency-based predictions market Polymarket is conducting fresh checks to verify that big spenders on its platform are based outside of the US, since people in that country aren’t allowed to trade on the website that has seen a surge in bets favoring Donald Trump to win the presidential election.

Newly legalized betting on elections spawns a potential $43 million payout for a GOP victory, raises the online odds of a Trump win, as well as concerns about possible foreign interference.